The first step of a closing is for a massive amount of information—about the borrower, the property and the type of loan—to be entered into the lender’s loan origination system (LOS). Data validation is the process by which that information is audited and verified.
At the start of the pandemic, companies across America were abruptly forced to send their employees home and quickly scramble to adjust to remote work. But even though new lender MortgageCountry had just begun operations, its president, Ira Brownstein, wasn’t worried.
During its first two months of lending, MortgageCountry has been closing loans in an average of 13 calendar days—setting a new standard for speed.
As we’re fond of noting, DocMagic can process a compliant closing document package of 100+ pages in under five seconds. But it’s not just a slogan, it’s a fact. Other document preparation companies take as much as ten minutes to do what we do in a fraction of the time.
So how do we manage to beat the industry standard by so much? We've got three key advantages:
DocMagic is the Document Preparation market share leader, with 37.6 percent of the market comprised of banks, credit unions, and independent mortgage bankers according to STRATMOR Group’s 2019 Technology Insight Study.
A Document Library of 200,000 Forms and Counting!
DocMagic's massive Document Library is comprised of compliant forms and documents that meet almost every customer and industry need. By combining our Document Library with several different form-generation technologies we have developed and perfected in our 30+ years, we can implement forms and documents so that they behave identically throughout all the solutions we provide to our clients.
TORRANCE, Calif., Nov. 5, 2019—DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that its Total eClose™ platform is the eClosing leader based on market share, overall satisfaction and lender loyalty in STRATMOR Group’s 2019 Mortgage Technology Insight Study.
Free Webinar! Your guide to new forms, updates, and deadlines
Join this FREE webinar designed to help you understand the revised Uniform Residential Loan Application (“URLA”) or 1003 form. DocMagic's Chief Compliance Officer, Gavin T. Ales will explain the new forms, compliance updates and the deadlines you need to be aware of.
Understanding URLA — The New Loan Application
By Phil Hall
On the company Web site, DocMagic bills itself as “The largest loan document production company in the U.S.” And while that is a grand definition, it doesn’t capture the intelligence, innovation and celebrated customer service level that has earned the company the respect of the industry.
National Mortgage Professional Magazine spoke with Don Iannitti, the company’s founder, president and chief executive officer, to discuss how DocMagic emerged to become a leader in its field.
Second acquisition this quarter adds industry-leading talent proven to deliver exceptional service
TORRANCE, Calif., Dec. 9, 2014-- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced today that it has acquired the assets of Doc-Tech Corporation, dba Document Express, a boutique document preparation company known for its exceptional customer service. The acquisition comes on the heels of DocMagic completing the purchase of award-winning eSignSystems in October.
As part of the acquisition, DocMagic will bring on the entire team of Doc-Tech Corp, including co-founder and Doc-Tech president Lori Johnson, and Doc-Tech EVP of sales, Michael Chaney. In addition, DocMagic gains DocTech's customer base of lenders, which it will continue to service and support using DocTech's service-oriented staff located at its corporate office in Palatine, Illinois.